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Archive by category Politics & Diplomacy

South Korean Shipbuilders Launch Joint Task Force to Navigate $150 Billion U.S. Maritime Fund

MASGA initiative aims to deepen Korea-U.S. shipbuilding cooperation under Lee-Trump trade framework SEOUL, August 3 (Korea Bizwire) — South Korea’s leading shipbuilders have formed a joint task force to coordinate participation in the newly announced Korea-U.S. shipbuilding partnership, known as the MASGA (Maritime and Shipbuilding Growth Arrangement) initiative—a $150 billion sector-specific fund unveiled as part [...]

Fast Rollout of Relief Coupons Marred by Fraud and Discrimination Controversy

SEOUL, August 2 (Korea Bizwire) — South Korea’s emergency consumer coupon program, launched to revitalize local economies, achieved a 90% disbursement rate within just 11 days of rollout, but has since come under scrutiny over illegal cash conversions and human rights concerns related to the card’s design. The “Livelihood Recovery Consumer Coupons,” issued in prepaid [...]

Parliamentary Committee Passes Controversial Broadcasting, ‘Pro-Labor’ Bills

SEOUL, August 1 (Korea Bizwire) — The parliamentary judiciary committee on Friday approved a set of contentious bills vetoed by former President Yoon Suk Yeol, including legislation aimed at reducing the government’s clout over public broadcasters and strengthening labor protections. During the committee’s plenary session, the ruling Democratic Party (DP) lawmakers also unilaterally passed a [...]

Ex-President Yoon Resists Detention Attempt Wearing Only Underwear: Special Counsel

SEOUL, August 1 (Korea Bizwire) — Jailed former President Yoon Suk Yeol on Friday resisted a special counsel team’s attempt to detain him by lying on the floor of his prison cell wearing only his underwear, the team said. Assistant special counsel Moon Hong-ju, and a prosecutor and an investigator from special counsel Min Joong-ki’s [...]

Special Counsel to Execute Detention Warrant for Yoon Friday

SEOUL, July 31 (Korea Bizwire) — A special counsel team said Thursday it will execute a detention warrant for jailed former President Yoon Suk Yeol this week to forcibly bring him in for questioning. Special counsel Min Joong-ki’s team said it plans to send an assistant special counsel, a prosecutor and an investigator to the [...]

Nat’l Assembly Speaker Vows Parliamentary Support for S. Korea–U.S. Trade Deal

SEOUL, July 31 (Korea Bizwire) — National Assembly Speaker Woo Won-shik on Thursday welcomed a new tariff deal between South Korea and the United States, vowing to spare no effort in providing legislative support. Woo made the remark in a Facebook post after the South Korean delegation reached the deal with the administration of U.S. [...]

Trump Announces Tentative U.S.-Korea Trade Deal to Cut Tariffs in Exchange for $350 Billion Investment

WASHINGTON, July 30 (Korea Bizwire) — U.S. President Donald Trump announced a tentative trade agreement with South Korea on Tuesday, stating that the United States will lower its reciprocal tariff rate on Korean goods from 25% to 15% in exchange for a $350 billion investment package from Seoul. In a post on Truth Social following [...]

DP Forms Special Committee to Support Special Counsel Probes Into Ex-President Yoon, His Wife, Marine’s Death

SEOUL, July 30 (Korea Bizwire) – The ruling Democratic Party (DP) launched a special committee Wednesday to assist ongoing special counsel probes into former President Yoon Suk Yeol’s botched martial law bid, corruption allegations involving his wife and the death of a Marine. Three separate special counsel teams are currently investigating Yoon’s failed attempt to [...]

Special Counsel Files for Detention Warrant for Ex-President Yoon

SEOUL, July 30 (Korea Bizwire) — A special counsel team said Wednesday it has filed for a warrant to forcibly bring in former President Yoon Suk Yeol for questioning over allegations of election meddling. The request was made shortly after Yoon defied for the second time special counsel Min Joong-ki’s summons to appear for questioning. [...]

Special Counsel Raids Minor Party Leader’s Office Again in Probe Into Ex-First Lady

SEOUL, July 30 (Korea Bizwire) — A special counsel team again raided the office of minor party leader Lee Jun-seok on Wednesday as part of its investigation into former first lady Kim Keon Hee’s alleged election meddling. Investigators from special counsel Min Joong-ki’s team searched the office of the New Reform Party (NRP) leader on [...]